Skip to main content

Capital Taxation

Volume 974: debated on Monday 19 November 1979

The text on this page has been created from Hansard archive content, it may contain typographical errors.

asked the Chancellor of the Exchequer if, in view of the answer given to the hon. Member for Upminster on 25 October, that information of the amounts of capital gains tax derived from the sale of homes used partly for business purposes is not available, he will consider removing this aspect of capital taxation on small businesses which may be set up in private homes.

[pursuant to his reply, 16 November 1979]: My hon. Friend will understand that it does not necessarily follow from the absence of this information that I should extend to a home used partly for business purposes the full exemption from capital gains tax given to a house occupied exclusively as the taxpayer's private residence. As he will know, we are conducting a thorough study of capital gains tax. Although I cannot anticipate the outcome of this review, my hon. Friend's proposal will be borne in mind.